Tridge summary
The Indian government has prohibited the export of onions until March 31, 2024, in order to increase domestic availability and control prices. In addition to the export ban, the government has also implemented measures such as a minimum export price and export duty on onions in an effort to stabilize prices. Despite the ban, exports of onion will be allowed in specific circumstances, and the government has also stepped up the sale of buffer onion stock at a subsidized rate to provide relief to consumers.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
New Delhi, Dec 8 (PTI) The government has banned exports of onion till March next year with a view to increase domestic availability and to keep prices in check. “Export policy of onions… is amended from free to prohibited till March 31, 2024,” the Directorate General of Foreign Trade (DGFT) said in a notification. Earlier, the Centre in October had decided to step up the sale of buffer onion stock at a subsidised rate of Rs 25 per kg in retail markets in order to provide relief to consumers. To control prices, the government has earlier taken several steps. It had imposed a minimum export price (MEP) of USD 800 per tonne on onion exports on October 28 till December 31 this year. In August, India had imposed a 40 per cent export duty on onions up to December 31. The DGFT also said that the exports of onion, however, will be allowed on the basis of permission granted by the government to other countries based on their request. It added that shipments of onion, whose loading had ...
Source: Theprint
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